We have not checked the charts of JD.com (JD) since July 10 where we wrote that "JD shares are a bit extended so a sideways correction or even a shallow dip should not come as a big surprise. Traders could use a dip or a sideways correction to be a buyer of JD. Risk a close below $59 while looking for gains to the $86 area."
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I remain convinced that we can't begin to talk about a bottom in the indexes until the S&P 500 is in a technical bear market.
Some investors may be asking whether we're seeing another 'nail in the coffin' of the secular bull market as several transport names get downgraded. Let's not ... go off the rails.